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United States of America (USA) Wind Power Market Size and Trends by Installed Capacity, Generation and Technology, Regulations, Power Plants, Key Players and Forecast, 2021-2030

The US wind power market’s installed capacity was valued at 122,385 MW in 2020 and it is expected to grow at a CAGR of more than 7% during 2021-2030. The wind power installed capacity had an average annual installation of 8,211.81 MW for the period 2011-2020. The US onshore wind power generation accounts for the largest share of the market with more than 80% of the annual generation in 2020 followed by offshore wind. The wind power market recorded a total number of 160 deals (including partnership deals) in 2020. Out of the total 160 deals, asset transactions had the highest number of deals with more than 30% followed by debt offerings, equity offerings, venture financing, acquisitions, partnerships, private equity, and mergers.

The US has in place renewable energy incentive programs both at the federal and state level with different states providing different kinds and degrees of support for different renewable energy technologies. The federal government drafts the policy framework, and a state government designs and implements policy details for renewable energy in its state. Disparities in policy implementation between individual states have become commonplace as each state formulates its own policies to promote the development of renewable sources within its geographical boundaries.

Overview of the wind power market in the US

Overview of the wind power market in the US

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What are the market dynamics in the US wind power market?

The US onshore wind power generation is expected to grow from 352,561.94 GWh in 2020 at a CAGR of more than 12%. It is expected that onshore wind installations will grow by 2030 at a CAGR of more than 6% during the period 2021-2030. Onshore wind is the dominant source of generation with more than 80% of the annual generation in 2020. There are 214 plants in permitting stage with a total capacity of more than 58,705 MW. There are 73 announced plants, 63 under construction plants, and 2 plants in the financed stage.

The main federal incentive programs that encourage the growth of renewable energy are Production Tax Credit (PTC) and Investment Tax Credit (ITC). At the state level, most governments have introduced RPS programs, under which utilities have an obligation to purchase a certain percentage of their power, generally 10-20%, within a specified time frame from renewable sources within that state. The Renewable Energy Certificates (REC) initiative is related to the RPS program and allows utilities to obtain certificates that can be used to achieve the mandate prescribed by the RPS. Alternatively, the utility may sell the certificates if it procures more renewable power than the percentage mandated by RPS. The American Recovery and Reinvestment Act (ARRA), which was enacted in 2009, provides financial incentives such as grants, loans, and funds to promote renewable energy and energy-efficiency measures.

What are the different sources in the renewable power market of the US?

The renewable power market in the US grew from 2010 to 247,691.97 MW by 2020. The market for renewable power sources is expected to grow at a CAGR of more than 5% during the period 2020-2030 and reach a cumulative installed capacity of more than 436,560 MW by the year-end 2030. The US renewable power market was led by onshore wind power with a cumulative installed capacity of more than 122,340 MW as of 2020. The second leading source in the renewable capacity mix of the country in the year 2020 was wind power with a cumulative installed capacity of more than 96,330 MW, it is expected to grow by 2030 at an estimated CAGR of more than 20%. The small hydropower segment is expected to grow from 8,470 MW in 2020 at a CAGR of more than 0.50% during the period 2021-2030. Another source in the renewable capacity mix of the US was geothermal power with a cumulative installed capacity of more than 3,860 MW in 2020. In the United States solar thermal power had a cumulative installed capacity of 1,836.40 MW in 2020 at a CAGR of 1%.

Renewable power market in the US, by sourcesRenewable power market in the US, by sources

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What are the different deals in the wind power market in the US?

The wind power market recorded a total number of 160 deals (including partnership deals) in 2020. Out of the total 160 deals, asset transactions accounted for the highest number of deals with more than 30% followed by debt offerings, equity offerings, venture financing, acquisitions, partnerships, private equity, and mergers.

Wind power market in the US, by deal type

Wind power market in the US, by deal type

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Which are the key players in the wind power market in the US?

The key players in the US wind power market are WEC Energy Group Inc, The AES Corp, PNM Resources Inc, PacifiCorp, NRG Energy Inc, Infrastructure and Energy Alternatives Inc, and Avangrid Inc.

Wind power market in the US, by key players

Wind power market in the US, by key players

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Market report scope

Market size (Year – 2020) 122,385 MW
Growth rate (CAGR)  >7%
Base year for estimation 2020
Forecast period 2021-2030
Key sources Onshore Wind, Solar PV, Biopower, Small Hydro, Geothermal, Solar Thermal and Offshore Wind
Key deals Asset Transactions, Venture Financing, Debt Offerings, Acquisitions, Equity Offerings, Partnerships, Private Equity, and Mergers

Scope

The report analyses the US wind power market. The scope of the research includes:

  • A brief introduction on global carbon emissions and global primary energy consumption.
  • An overview of the country’s renewable power market, highlighting installed capacity trends (2010-2030), generation trends (2010-2030), and installed capacity split by various renewable power sources.
  • Detailed overview of the country’s wind power market with installed capacity and generation trends and major active and upcoming wind power projects.
  • Deal analysis of the country’s wind power market.
  • Key policies and regulatory framework supporting the development of wind power sources.
  • Snapshots of some of the major market participants in the country.

Reasons to Buy

  • The report will enhance your decision-making capability in a more rapid and time-sensitive manner.
  • Identify key growth and investment opportunities in the country’s wind power market.
  • Facilitate decision-making based on strong historic and forecast data for the wind power market.
  • Position yourself to gain the maximum advantage of the industry’s growth potential.
  • Develop strategies based on the latest regulatory events.
  • Identify key partners and business development avenues.
  • Understand and respond to your competitors’ business structure, strategy, and prospects.

 

Key Players

WEC Energy Group Inc, The AES Corp, PNM Resources Inc, PacifiCorp, NRG Energy Inc, Infrastructure and Energy Alternatives Inc, Avangrid Inc

Table of Contents

| Table of Contents

| List of Tables

| List of Figures

1. Introduction

1.1 Carbon Dioxide Emissions, Global, 2001–2020

1.2 Primary Energy Consumption, Global, 2001–2020

1.3 Report Guidance

2. Renewable Power Market, United States

2.1 Renewable Power Market, United States, Installed Capacity, 2010-2030

– Renewable Power Market, United States, Cumulative Installed Capacity by Source, 2010-2030

– Renewable Power Market, United States, Cumulative Installed Capacity Share by Source, 2020 and 2030

– Renewable Power Market, United States, Net Capacity Additions by Source, 2021-2030

– Renewable Power Market, United States, Capacity Growth by Source, 2020-2030

2.2 Renewable Power Market, United States, Power Generation, 2010-2030

– Renewable Power Market, United States, Power Generation by Source, 2010-2030

– Renewable Power Market, United States, Growth in Power Generation by Source, 2020-2030

3. Wind Power Market, United States

3.1 Wind Power Market, United States, Installed Capacity, 2010-2030

– Wind Power Market, United States, Cumulative Installed Capacity Split by Onshore and Offshore Wind, 2010-2030

3.2 Wind Power Market, United States, Power Generation, 2010-2030

– Wind Power Market, United States, Power Generation by Type, 2010-2030

3.3 Wind Power Market, United States, Market Size, 2010-2025

3.4 Wind Power Market, United States, Power Plants

– Wind Power Market, United States, Major Active Plants

– Wind Power Market, United States, Snapshot of Upcoming Plants

– Wind Power Market, United States, Key Under-construction Projects

3.5 Wind Power Market, United States, Turbine Market, 2012-2020

– Wind Turbine Market, United States, Annual Installed Capacity, 2012-2020

– Wind Turbine Market, United States, Market Size, 2012-2020

– Wind Turbine Market, United States, Market Share, 2020

3.6 Wind Power Market, United States, Deal Analysis, 2020

– Wind Power Market, United States, Deal Volume vs. Deal Value, 2010–2020

– Wind Power Market, United States, Split by Deal Type, 2020

4. Renewable Energy Policy Framework, United States

4.1 Renewable Energy Market, US, Overview

4.2 Federal Initiatives, US

– Production Tax Credits

– Federal Initiatives for Wind Power

– Interconnection Standards

– Standard Interconnection Agreements for Wind Power Plants

4.3 Renewable Energy Policy Framework, Alaska

– Power Project Loan Fund

4.4 Renewable Energy Policy Framework, Arizona

– Residential Solar and Wind Energy Systems Tax Credit

– Solar & Wind Equipment Certification

4.5 Renewable Energy Policy Framework, Connecticut

– Renewable Portfolio Standards

4.6 Renewable Energy Policy Framework, Delaware

– DEMEC Member Utilities – Green Energy Program Incentives

4.7 Renewable Energy Policy Framework, Florida

– Property Tax Abatement for Renewable Energy Property

4.8 Renewable Energy Policy Framework, Hawaii

– Solar and Wind Energy Credit

– Farm and Aquaculture Alternative Energy Loan

4.9 Renewable Energy Policy Framework, Illinois

– Sales Tax Exemption for Wind Energy

4.10 Renewable Energy Policy Framework, Iowa

– Alternative Energy Law

– Alternate Energy Revolving Loan Program

– Renewable Energy Equipment Exemption

– Property Tax Exemption for Renewable Energy Systems

– Small Wind Innovation Zone Program and Model Ordinance

4.11 Renewable Energy Policy Framework, Kentucky

– Tax Exemption for Large-Scale Renewable Energy Projects

4.12 Renewable Energy Policy Framework, Massachusetts

– Net Metering

– Residential Renewable Energy Income Tax Credit

– Renewable Energy Property Tax Exemption

4.13 Renewable Energy Policy Framework, Minnesota

– Wind and Solar PV Systems Exemption

– Agricultural Improvement Loan Program

4.14 Renewable Energy Policy Framework, Nebraska

– Nebraska Solar and Wind Easements

4.15 Renewable Energy Policy Framework, New Jersey

– Renewable Energy Competitive Bidding/Auctions

– Wind Manufacturing Tax Credit

4.16 Renewable Energy Policy Framework, Ohio

– Wind Permitting Standards

4.17 Renewable Energy Policy Framework, Oregon

– Net Metering

– Interconnection Standards

4.18 Renewable Energy Policy Framework, Texas

– Solar and Wind Energy Business Franchise Tax Exemption

4.19 Renewable Energy Policy Framework, Virginia

– Net metering

4.20 Renewable Energy Policy Framework, West Virginia

– Tax Exemption for Wind Energy Generation

5. Wind Power Market, United States, Company Profiles

5.1 WEC Energy Group Inc

– WEC Energy Group Inc – Company Overview

– WEC Energy Group Inc – Business Description

– WEC Energy Group Inc – SWOT Analysis

– WEC Energy Group Inc – Major Products and Services

– WEC Energy Group Inc – Head Office

5.2 The AES Corp

– The AES Corp – Company Overview

– The AES Corp – Business Description

– The AES Corp – SWOT Analysis

– The AES Corp – Major Products and Services

– The AES Corp – Head Office

5.3 PNM Resources Inc

– PNM Resources Inc – Company Overview

– PNM Resources Inc – Business Description

– PNM Resources Inc – SWOT Analysis

– PNM Resources Inc – Major Products and Services

– PNM Resources Inc – Head Office

5.4 PacifiCorp

– PacifiCorp – Company Overview

– PacifiCorp – Business Description

– PacifiCorp – SWOT Analysis

– PacifiCorp – Major Products and Services

– PacifiCorp – Head Office

5.5 NRG Energy Inc

– NRG Energy Inc – Company Overview

– NRG Energy Inc – Business Description

– NRG Energy Inc – SWOT Analysis

– NRG Energy Inc – Major Products and Services

– NRG Energy Inc – Head Office

5.6 Infrastructure and Energy Alternatives Inc

– Infrastructure and Energy Alternatives Inc – Company Overview

– Infrastructure and Energy Alternatives Inc – Major Products and Services

– Infrastructure and Energy Alternatives Inc – Head Office

5.7 Avangrid Inc

– Avangrid Inc – Company Overview

– Avangrid Inc – Business Description

– Avangrid Inc – SWOT Analysis

– Avangrid Inc – Major Products and Services

– Avangrid Inc – Head Office

6. Appendix

6.1 Abbreviations

6.2 Market Definitions

– Power

– Renewable Power

– Installed Capacity

– Electricity Generation

– Electricity Consumption

6.3 Methodology

– Coverage

– Secondary Research

– Primary Research

– Modelling and Forecasting

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List of Tables

Table 1: Carbon Dioxide Emissions from Energy Consumption, Global, 2001–2020

Table 2: Primary Energy Consumption, Global, 2001–2020

Table 3: Renewable Power Market, United States, Cumulative Installed Capacity by Source (MW), 2010-2030

Table 4: Renewable Power Market, United States, Cumulative Installed Capacity Share by Source (%), 2020 and 2030

Table 5: Renewable Power Market, United States, Net Capacity Additions by Source (MW), 2021-2030

Table 6: Renewable Power Market, United States, Capacity Growth by Source, 2020-2030

Table 7: Renewable Power Market, United States, Power Generation by Source (GWh), 2010-2030

Table 8: Renewable Power Market, United States, Growth in Power Generation by Source, 2020-2030

Table 9: Wind Power Market, United States, Installed Capacity (MW), 2010-2030

Table 10: Wind Power Market, United States, Cumulative Installed Capacity by Type (MW), 2010-2030

Table 11: Wind Power Market, United States, Power Generation (GWh), 2010-2030

Table 12: Wind Power Market, United States, Power Generation by Type (GWh), 2010-2030

Table 13: Wind Power Market, United States, Market Size, 2010-2025

Table 14: Wind Power Market, United States, Major Active Plants – Offshore

Table 15: Wind Power Market, United States, Major Active Plants – Onshore

Table 16: Wind Power Market, United States, Snapshot of Upcoming Plants

Table 17: Wind Power Market, United States, Key Under-construction Projects

Table 18: Wind Turbine Market, United States, Annual Installed Capacity (MW), 2012-2020

Table 19: Wind Turbine Market, United States, Market Size ($m), 2012-2020

Table 20: Wind Turbine Market, United States, Market Share (%), 2020

Table 21: Wind Power Market, United States, Deal Volume vs. Deal Value ($m), 2010–2020

Table 22: Wind Power Market, United States, Deals by Type, 2020

Table 23: Municipal Green Energy Program Incentives, Newark and Dover, Delaware

Table 24: WEC Energy Group Inc, Major Products and Services

Table 25: The AES Corp, Major Products and Services

Table 26: PNM Resources Inc, Major Products and Services

Table 27: PacifiCorp, Major Products and Services

Table 28: NRG Energy Inc, Major Products and Services

Table 29: Infrastructure and Energy Alternatives Inc, Major Products and Services

Table 30: Avangrid Inc, Major Products and Services

Table 31: Abbreviations

List of Figures

Figure 1: Carbon Dioxide Emissions from Energy Consumption, Global, 2001–2020

Figure 2: Primary Energy Consumption, Global, 2001–2020

Figure 3: Renewable Power Market, United States, Cumulative Installed Capacity by Source (MW), 2010-2030

Figure 4: Renewable Power Market, United States, Cumulative Installed Capacity Share by Source (%), 2020 and 2030

Figure 5: Renewable Power Market, United States, Net Capacity Additions by Source (MW), 2021-2030

Figure 6: Renewable Power Market, United States, Capacity Growth by Source, 2020-2030

Figure 7: Renewable Power Market, United States, Power Generation by Source (GWh), 2010-2030

Figure 8: Renewable Power Market, United States, Growth in Power Generation by Source, 2020-2030

Figure 9: Wind Power Market, United States, Installed Capacity (MW), 2010-2030

Figure 10: Wind Power Market, United States, Cumulative Installed Capacity by Type (MW), 2010-2030

Figure 11: Wind Power Market, United States, Power Generation (GWh), 2010-2030

Figure 12: Wind Power Market, United States, Power Generation by Type (GWh), 2010-2030

Figure 13: Wind Power Market, United States, Market Size, 2010-2025

Figure 14: Wind Power Market, United States, Snapshot of Upcoming Plants

Figure 15: Wind Turbine Market, United States, Annual Installed Capacity (MW), 2012-2020

Figure 16: Wind Turbine Market, United States, Market Size ($m), 2012-2020

Figure 17: Wind Turbine Market, United States, Market Share (%), 2020

Figure 18: Wind Power Market, United States, Deal Volume vs. Deal Value ($m), 2010–2020

Figure 19: Wind Power Market, United States, Split by Deal Type (%), 2020

Frequently Asked Questions

The US wind power market’s installed capacity was 122,385 MW in 2020.

The US wind power market is expected to grow at a CAGR of more than 7% during 2021-2030.

Onshore wind, solar PV, biopower, small hydro, geothermal, solar thermal, and offshore wind are the key sources in the US renewable power market.

Asset Transactions, venture financing, debt offerings, acquisitions, equity offerings, partnerships, private equity, and mergers are the top deals in the US’s wind power market.

The key players in the US wind power market are WEC Energy Group Inc, The AES Corp, PNM Resources Inc, PacifiCorp, NRG Energy Inc, and Infrastructure and Energy Alternatives Inc.

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